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Media Report
March 29 , 2018
  • CNBC：China warns US not to open Pandora's Box, unleash trade ills on world
    CNBC reports: "China warned the United States on Thursday not to open Pandora's Box and spark a flurry of protectionist practices across the globe, even as Beijing pointed to U.S. goods that it could target in a deepening Sino-U.S. trade dispute. China could target a broad range of U.S. businesses from agriculture to aircraft, autos, semiconductors and even services if the trade conflict escalates, the official China Daily newspaper said in an editorial on Thursday. President Donald Trump's move last week to slap up to $60 billion in tariffs on some Chinese imports has since provoked a warning from Beijing that it could retaliate with duties of up to $3 billion of U.S. imports."
  • Bloomberg：How China's Xi Gave Kim Jong Un the Trump Treatment
    Bloomberg reports: "It may have been billed as an unofficial trip, but China's President Xi Jinping pulled out all the stops during a four-day visit to Beijing by North Korea's leader Kim Jong Un, his wife and a train load of dignitaries. In fact it's hard to spot the difference in Kim's welcome and the show Xi put on for President Donald Trump last November. Kim's trip, chronicled by North Korea's official Korean Central News Agency, was perhaps all the more impressive because it took place in near total secrecy. Trump's visit was billed as a "state-visit plus" and included a precedent-breaking tour of the Forbidden City. But when you consider the honors heaped on Kim — and the clandestine nature of his visit — should Trump's nose be out of joint?"
  • The Economist：China wants to reshape the global oil market
    The Economist comments: "Traditionally, to count as an oil power a country had to be a big producer of the black stuff. China is the world's biggest importer but still wants to break into that exclusive club. On March 26th it launched a crude futures contract in a bid to gain more clout in the global market. Some think that, if successful, the yuan could start to displace the dollar in oil trading... China has two goals. The basic one is to help its companies hedge against volatility. Chinese refiners and traders have struggled to manage currency risks because of capital controls. An onshore contract that lets them lock in the future price of oil in yuan is thus appealing... More ambitiously, China hopes to create a standard for oil pricing as a rival to Brent in Europe and West Texas Intermediate in America—a standard that reflects its own supply and demand."
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